Greg Coffey's former co-manager at GLG Partners and Moore Capital Management is set to join a new hedge fund founded by two of his former colleagues at UBS.

Darren Read will join Gemsstock, the new firm established by former UBS Russia research chief Al Breach and the former head trader at the bank's Russian joint-venture, Charles Hill, Bloomberg News reports.

Read has spent the past five years at Moore, leaving the firm last month. Moore shut the hedge fund he co-managed with Coffey a year ago, after Coffey's departure. He joined Moore as a member of Coffey's GLG team, and spent six years at UBS before moving to that firm. Prior to UBS, he worked at WestLB Asset Management.

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MODERN TRADER explores the effect of a potential trade war on U.S. equity markets. Will it end the bull run or will low interest rates allow U.S. equities to maintain its momentum? Read on. We also attempt to identify the key drivers of active equity hedge funds.